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Date June 1 6 1 2 3. 6 5. 8 9 10 10 23 28 30 PREMIER BANK Statement of Account-Cookie Creations Inc. June 30, 2024 dditional information: Explanation Balance Deposit Chack #600 Check #601 Chack #602 Deposit NSF check NSF-fee Chack #603 Deposit EFT-Telus Chack #599 Bank charges Checks and Other Debits 625 95 56 100 35 452 85 361 13 Deposits 750 1,050 125 Balance 3,256 4,006 3,381 3,285 3,230 4180 4,145 3,693 3,818 3,733 3,372 3,359 On May 31, there were two outstanding checks: #595 for $238 and #599 for $361. Premier Bank made a posting error to the bank statement check #603 was issued for $425, not $452. The deposit made on June 20was for $125 that Natalie received for teaching a class. Natalie made an error in recording this transaction. The electronic funds transfer (EFT) was for Natalie's cell phone use. Remember that she uses this phone only for business The NSF check was from Ron Black Natalie received this check for teaching a class to Ron's children. Natalie contacted Ron and he assured her that she will receive a check in the mail for the outstanding amount of the invoice and the NSF bank

Date June 1 6 1 2 3. 6 5. 8 9 10 10 23 28 30 PREMIER BANK Statement of Account-Cookie Creations Inc. June 30, 2024 dditional information: Explanation Balance Deposit Chack #600 Check #601 Chack #602 Deposit NSF check NSF-fee Chack #603 Deposit EFT-Telus Chack #599 Bank charges Checks and Other Debits 625 95 56 100 35 452 85 361 13 Deposits 750 1,050 125 Balance 3,256 4,006 3,381 3,285 3,230 4180 4,145 3,693 3,818 3,733 3,372 3,359 On May 31, there were two outstanding checks: #595 for $238 and #599 for $361. Premier Bank made a posting error to the bank statement check #603 was issued for $425, not $452. The deposit made on June 20was for $125 that Natalie received for teaching a class. Natalie made an error in recording this transaction. The electronic funds transfer (EFT) was for Natalie's cell phone use. Remember that she uses this phone only for business The NSF check was from Ron Black Natalie received this check for teaching a class to Ron's children. Natalie contacted Ron and he assured her that she will receive a check in the mail for the outstanding amount of the invoice and the NSF bank

Financial Accounting
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter8: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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Instructions: Prepare Cookie Creations' bank reconciliation for June 2024. (List items that increase as per bank first). Everything needed is inclulded in this problem!!

 

Date May 31 June 1 1. 2. 3. 4. 6 5. 6 8 9 10 10 14 20 23 28 30 PREMIER BANK Statement of Account-Cookie Creations Inc. June 30, 2024 Explanation Balance Deposit Chack #600 Check #601 Check #602 Deposit NSF check Additional information: NSF-fee Chack #603 Deposit EFT-Telus Check #599 Bank charges Checks and Other Debits 625 95 56 100 35 452 85 361 13 Deposits 750 1,050 125 Balance 3,256 4,006 3,381 3,286 3,230 4,280 4,180 4,145 3,693 3,818 3,733 3,372 3,359 On May 31, there were two outstanding checks: #595 for $238 and #599 for $361. Premier Bank made a posting error to the bank statement: check #603 was issued for $425, not $452. The deposit made on June 20 was for $125 that Natalie received for teaching a class. Natalie made an error in recording this transaction. The electronic funds transfer (EFT) was for Natalie's cell phone use. Remember that she uses this phone only for business. The NSF check was from Ron Black. Natalie received this check for teaching a class to Ron's children. Natalie contacted Ron and he assured her that she will receive a check in the mail for the outstanding amount of the invoice and the NSF bank charge
Transcribed Image Text:Date May 31 June 1 1. 2. 3. 4. 6 5. 6 8 9 10 10 14 20 23 28 30 PREMIER BANK Statement of Account-Cookie Creations Inc. June 30, 2024 Explanation Balance Deposit Chack #600 Check #601 Check #602 Deposit NSF check Additional information: NSF-fee Chack #603 Deposit EFT-Telus Check #599 Bank charges Checks and Other Debits 625 95 56 100 35 452 85 361 13 Deposits 750 1,050 125 Balance 3,256 4,006 3,381 3,286 3,230 4,280 4,180 4,145 3,693 3,818 3,733 3,372 3,359 On May 31, there were two outstanding checks: #595 for $238 and #599 for $361. Premier Bank made a posting error to the bank statement: check #603 was issued for $425, not $452. The deposit made on June 20 was for $125 that Natalie received for teaching a class. Natalie made an error in recording this transaction. The electronic funds transfer (EFT) was for Natalie's cell phone use. Remember that she uses this phone only for business. The NSF check was from Ron Black. Natalie received this check for teaching a class to Ron's children. Natalie contacted Ron and he assured her that she will receive a check in the mail for the outstanding amount of the invoice and the NSF bank charge
Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2024 using the following information. GENERAL LEDGER-COOKIE CREATIONS INC. Cash Date Explanation Ref Debit Credit Balance 2024 June 1 Balance 1 3 Check #600 3 Check #601 8 Check #602 9 13 Check #603 20 28 Check #604 28 750 1,050 155 110 625 95 56 2,657 3,407 297 2,782 2,667 2,631 3,681 425 3,256 3,411 3,114 3,224
Transcribed Image Text:Natalie decides that she cannot afford to hire John to do her accounting. One way that she can ensure that her cash account does not have any errors and is accurate and up-to-date is to prepare a bank reconciliation at the end of each month. Natalie would like you to help her. She asks you to prepare a bank reconciliation for June 2024 using the following information. GENERAL LEDGER-COOKIE CREATIONS INC. Cash Date Explanation Ref Debit Credit Balance 2024 June 1 Balance 1 3 Check #600 3 Check #601 8 Check #602 9 13 Check #603 20 28 Check #604 28 750 1,050 155 110 625 95 56 2,657 3,407 297 2,782 2,667 2,631 3,681 425 3,256 3,411 3,114 3,224
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Prepare any necessary adjusting entries at June 30.

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